Latest articles from Benjamin Mercer

Daily Mail pension schemes to benefit from RMS sale

News on the go

On the go: Daily Mail and General Trust pension schemes could stand to benefit from the £1.4bn sale of insurance risk business RMS to Moody’s that is part of a broader restructuring at DMGT.

TPR threats enough to secure fair treatment for hybrid scheme

News on the go

On the go: The Pensions Regulator’s issuance of a warning notice against a scheme sponsor has been sufficient to restore parity between it and other creditors.

Weekly Roundup: GMPlease please please

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This week – PASA updates its guidance on GMP equalisation, master trust sector set to hit £461bn by 2029, ombudsman partially upholds a complaint against MyCSP, and DIY strategies are a ‘better way’ to do ESG investing.

Challenges of green regulation should not be underestimated

News on the go

On the go: More than a quarter of defined benefit pension schemes are only aiming for minimum compliance with new rules and regulations around climate change, the challenge of which should not be underestimated, LCP has warned.

Self-employed pension contributions rise despite pandemic impact

News on the go

On the go: Scheme members are paying more into their pensions in 2021 than in 2020, with the largest monthly contributions coming from the self-employed, according to figures from PensionBee.

PASA updates GMP guidance in light of Lloyds 2020 judgment

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The Pensions Administration Standards Association has updated its guaranteed minimum pension equalisation to account for the Lloyds 2020 judgment, setting out the role of transferring schemes and receiving plans in individual transfers.

Master trusts to hit £461bn by 2029

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Data crunch: The master trust sector is set to become the fastest-growing market segment in workplace DC by 2029, largely thanks to contributions from auto-enrolled members and consolidation of single employer trusts.

Ombudsman criticises civil service pensions administrator

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The Pensions Ombudsman has partially upheld a complaint brought against MyCSP, which administers Civil Service Pensions, for causing “significant distress” in its handling of an overpayment case.

Employer seeks £265,000 in damages from Plumbing Pensions

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A plumbing employer has filed a summons at the Court of Session in Edinburgh seeking more than £265,000 in damages from Plumbing Pensions over its alleged repeated failures to manage the scheme’s Section 75 debt.

Weekly Roundup: A bad week for the DWP

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This week – DWP loses court battle on PPF cap, PHSO takes aim at the department over ‘maladministration’, USS employers pledge greater covenant support, and government U-turns on minimum pension age.